Creative Planning Lowers Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Creative Planning decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 93,553 shares of the business services provider’s stock after selling 2,285 shares during the period. Creative Planning’s holdings in Interpublic Group of Companies were worth $2,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPG. Benjamin Edwards Inc. grew its holdings in shares of Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies during the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after purchasing an additional 405 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Interpublic Group of Companies during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $29.80 on Friday. The business’s 50 day moving average is $31.33 and its two-hundred day moving average is $30.73. The Interpublic Group of Companies, Inc. has a 52-week low of $27.54 and a 52-week high of $35.17. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 4.97 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.51% and a net margin of 7.44%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $0.70 EPS. Interpublic Group of Companies’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 62.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IPG shares. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Barclays reduced their price target on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.